ProMedica Health System shortens name

ProMedica Health System has shortened its name to ProMedica as of July 13.

The name change will also affect 10 hospitals, including the Toledo Hospital and Toledo Children’s Hospital, which will now bear the ProMedica title before their name.

ProMedica is a not-for-profit healthcare organization formed in 1986. They have nearly 14,000 employees, 3,000 physicians and more than 300 facilities in both Ohio and Michigan. ProMedica attends to 2.73 million patients annually and is ranked as the nation’s No. 2 most Integrated Healthcare Network (IHN) in the U.S. according to a survey conducted by SDI on IHN performance levels.

Dr. Paul Fenton, an orthopaedic surgeon at Toledo Hospital, said the exclusive focus of the new hospital would increase its efficiency and effectiveness.

“Right now the whole medical system is inefficient,” Fenton said.

The hospital will focus on post-operative care of patients, and that is what the hospital’s team says will set it apart.

“Hospitals are kind of jacks of all trades and masters of none,” Fenton said. “And this is one of those things where you can say, ‘This is all we do.’”

The hospital is the eighth in the country and first in the area to have a Hemosafe blood bank refrigerator installed, said Holly Bristoll, the new hospital’s president. The device stores blood coded to patients’ blood types so surgeons have a readily available supply should a transfusion be necessary during an operation.

It is also ProMedica’s first all-digital hospital. Information systems in the operating rooms allow doctors to immediately access a patient’s records in case of surprises during surgery.

Fenton said the hospital would become particularly valuable to patients as baby-boomers begin to have specifically orthopaedic needs.

Port Authority issues $8 million bond to Materion Brush Inc.

The Toledo-Lucas County Port Authority announced June 20 that it has issued an $8 million taxable bond within the Northwest Ohio Bond Fund Program to Materion Brush Inc. for expansion of its manufacturing operations in Elmore, Ohio.

Materion Brush, formerly know as Brush Wellman Inc., used the bonds to acquire a 125,400 square-foot facility and to purchase new machinery and equipment for it.

The 10-year bond, which closed at the end of April 2011, has a fixed interest rate of 4.9 percent, according to the Port Authority.

Materion Brush, a wholly-owned entity of Materion Corporation based in Cleveland, is a fully integrated supplier of engineered beryllium materials to growing international markets, according to the press release from the Port Authority.

Officials from the company could not be reached for comment about the bonds or the project financed by them.

The company’s flagship manufacturing facility is located on a 480-acre site in Harris Township outside Elmore in Ottawa County. The plant presently employs about 600 employees in the 865,000 square-foot facility that began operations in 1953.

Brush Engineered Materials Inc. announced March 8 that it officially changed its name to Materion Corporation. The company’s common stock now trades under the symbol MTRN on the New York Stock Exchange.

Materion supplies highly-engineered, advanced materials to leading and dynamic technology companies around the globe. It’s the only beryllium producer in the world taking beryllium from the mine through the mill, according to the company.

Materion serves customers in more than 50 countries in North America, Europe and Asia and employs approximately 2,500 people worldwide according to their website, www.materion.com.

The Northwest Ohio Bond Fund finances projects from $1 to $8 million with fixed interest rates for the full term of the bonds. A typical transaction consists of 90 percent financing and 10 percent equity, according to the Port Authority.

The Northwest Ohio Bond Fund provides companies with access to the national capital market as if they were BBB Investment Grade companies. Its portfolio of projects includes BAX Global, Nagel Trucking, Dana, Owens Corning, Xunlight, and the Toledo School for the Arts.

“Since the inception in 1988, the Port Authority has issued more than $215 million in financing from the Northwest Ohio Bond Fund,” Paul Toth, president and CEO of the Toledo-Lucas County Port Authority, stated in the press release.

“Over the 23-year history of the bond fund, no bonds have ever been in default and the program has never had to use the reserve funds to cure a default,” Toth stated.

The Port Authority recently increased the Bond Fund Program Reserve by depositing over $12 million in additional reserve funds through a partnership with the Ohio Manufacturers Association, Lucas County and a federal grant through the U.S. Department of Energy.

The Toledo-Lucas County Port Authority was the first port authority in Ohio to create a bond fund, according to the press release.

Port authorities were originally formed to oversee maritime and airport assets, but they have evolved into economic development agencies that fund job-generating projects. Port authorities are empowered by state law to play a role in forming public-private partnerships to finance business growth and economic development in Ohio.

The Northwest Ohio Bond Fund is one of only three bond funds in the state rated by Standard & Poor’s. It was given a BBB rating with stable outlook in August 2010, according to the press release.

The Port Authority has developed a national reputation for innovative business financing by assisting more than 300 economic development projects representing a total investment of more than $1 billion while helping to create and retain more than 16,000 jobs, according to the press release.

Local Small Business Development Center wins SBA Award

The Ohio Small Business Development Center (SBDC) at the Toledo Regional Chamber of Commerce received the 2011 Small Business Development Center Excellence and Innovation Award at a special presentation May 19.

The Toledo SBDC was recognized as the top center in SBA Region 5 which covers six Midwestern states.

The SBA Excellence and Innovation Award recognizes SBDC centers that exhibit leadership, as well as those that further develop, champion and foster innovation. The Toledo office was recognized for a number of innovations, most notably its “triage” services to distressed businesses in the wake of the recent economic downturn.

“The economic health of a region is directly tied to the health of its small business community,” Bill Wersell, SBDC Director in Toledo, said after accepting the award from Gil Goldberg, district director for Cleveland District office of the SBA.

“We focus on helping business owners understand the financial life of their business and how the money flows through it. Lending is based on cash flow forecasting and most businesses aren’t geared to providing that kind of information. We educate them on the cash flow of their business so they can understand it,” Wersell explained.

The Howard Moriarty Company of Toledo is one local business that has benefited from the services of the SBDC. Faced with declining sales as the economy worsened, the construction supply rental company began working with the SBDC on the development of new markets and negotiations with the client’s bank.

“The SBDC helped us make tough choices and gave us the confidence and ability to do what needs to be done in difficult situations, said Patrick Moriarty, co-owner of the fourth-generation, family-owned business.

“The SBDC helped us cut costs, restructure our operations, and implement a new marketing plan. They also helped us negotiate a significant concession from the bank, resulting in a 40 percent savings in our financial overhead,” Moriarty said.

“Huntington Bank was cooperative and willing to work with Moriarty to improve their financial situation and the bank is pleased with the results,” Wersell said.

“We’ve had success working with every bank in the area to help struggling businesses. Banks are willing to work with customers who have a plan. We help clients develop a plan to make it work.”

The family business began in 1908 when Thomas Moriarty founded Moriarty Machinery in Toledo. His son, Howard, started the Howard T. Moriarty Company in 1949.

Howard’s son, James, Sr., joined the business in the 1950s. He bought the name and rights to Moriarty Machinery in 1982 to avoid confusion between the similarly named businesses.

Today, Jim and his sons, James, Jr. and Patrick, operate the business as co-owners.

The company rents, sells and services construction equipment, and sells supplies with an experienced staff of professionals who help them operate the business, said Patrick.

Smitty’s Automotive and RV Repair Service is another area company that has worked with the SBDC to refocus its business.

“We helped them look at their expenses and revenues and come up with a plan to reduce their debt. We worked with Fifth Third Bank to develop a plan for their customers,” Wersell said.

The SBDC was able to simplify things and actually make my business run better, easier and more profitably, so it was a great match, according to Roger Kwapich, owner of Smitty’s Automotive with three locations in Toledo and Sylvania.

“The plan is really working for us and we’re grateful to the people at SBDC for their help,” Kwapich said. “They’re the best-kept secret in the area.”

Smitty’s provides professional automotive repair and service on virtually all domestic and foreign brands and models of cars, trucks, vans and other vehicles. It specializes in the service and repair of motor homes and recreational vehicles.

The company has provided auto repair service in the Toledo area for more than 50 years with an experienced staff of ASE certified technicians, several master technicians and two World Certified Technicians.

Toledo Chamber to get $320,000 in funding for internships from Ohio Third Frontier

The Toledo Regional Chamber of Commerce was among several recipients of nearly $2 million in funding recommended for the Ohio Third Frontier Internship Program announced May 24.

The Ohio Third Frontier Internship Program links college students with Ohio for-profit companies that are commercializing new products, technologies, and processes. The awards are contingent upon State Controlling Board approval.

Toledo Regional Chamber of Commerce was awarded $320,000 for the program in collaboration with the Lima/Allen County Chamber of Commerce, University of Toledo, Bowling Green State University, Rhodes State College, SSOE Inc, Minster Machine Company, GEM Inc., Dmytryka Jacobs Engineers, Inc., and Rudolph Libbe Inc. The awarded organizations will administer the program for their respective region.

The goals of the Ohio Third Frontier Internship Program are to contribute to the expansion of a technologically proficient workforce and to retain highly knowledgeable and talented students in Ohio through employment at for-profit companies in the state, according to the Department of Development.

The Ohio Third Frontier Internship Program targets key areas of science and technology, engineering and math relating to its focus areas of advanced materials and energy; biomedical, instruments, controls, and electronics; advanced propulsion; and information technology.

Toledoan brings Donatos pizza to hometown

Tom Dumit returned to his hometown of Toledo bringing Donatos pizza, subs and salads with him.

Dumit is president and managing partner of the Breaking Bread Pizza Company which owns and operates the Donatos franchise for Northwest Ohio. It’s not new for Dumit who has worked for Donatos since 1999, most recently as vice president of human resources.

Dumit said he signed a 10-store deal with Donatos for Northwest Ohio and Delaware County in 2006. He currently operates the only Donatos restaurant in the area located on Conant Street in Maumee.

“I couldn’t resist the opportunity to come back to Ohio and be part of what’s going on at Donatos,” he said about joining the company that was owned by McDonald’s at the time.

The restaurant chain specializes in pizza, subs and salads with carry-out, delivery and dine-in for about 40 people at the Maumee location. The unique thing about Donatos is the drive-through window for people to pick up their carry-out orders or to order on the go, said Dumit.

Donatos is renowned for its signature, trademarked “Edge to Edge” pizzas loaded with the finest cheeses, meats, and freshest vegetables hand-sliced daily in every restaurant.

“The quality of the pizza and overall value is phenomenal,” he said. “Donatos’ Edge to Edge large pizza is like an extra large at other pizza places.”

Dumit said Donatos is known for its thin crust pizza, cinnamon twists and apple crisp, all based on its own dough made with special ingredients at its plant in the Columbus area.

Donatos also features pizzeria and signature subs, salads and Stromboli. It offers daily specials such as all you can eat pizza, salad and breadsticks for $5.99 on Wednesday night from 5 to 8 p.m. and Sunday afternoon from noon to 3 p.m.

With his background in human resources, Dumit realizes that people are an important ingredient in the food service business.

He said he trains his own employees and managers, focusing on three things — being friendly to every customer, double-checking to make sure every order is right and getting the food to the customer on time with “promise time” delivery at Donatos.

“If the customers are not happy, then we’re not happy. It’s important that we have the right people,” Dumit said.

He is in the Toledo area regularly to make sure the Donatos in Maumee stays on track. He has an experienced general manager, Scott Wiesler, who has been in the restaurant business for many years.

They have three full-time managers, 12 part-time employees and a full-time delivery driver during the day at the Maumee store.

“We get customers from as far away as Michigan to the north and Findlay to the south. People and lots of OSU students who tried the pizza in Columbus come here for more,” he said.

Dumit said he plans to open a store in Findlay in June, another in Bowling Green, as many as five in Toledo and two near Columbus.

Dumit was born and raised in Toledo, graduating from St. Johns Jesuit High School in 1972. He currently lives outside of Columbus but his and his wife’s families still live here.

He got his start in the restaurant business working in McDonald’s as a teenager in Toledo. He later managed the Ponderosa restaurants on Central Avenue and Woodville Road and served as a district manager for the chain in Connecticut.

He worked for Metro Media Restaurants for 20 years as director of human resources and then as vice president of human resources for the company’s Bennigans restaurants in Texas.

Dumit did not want to discuss his investment in Donatos but did confirm the accuracy of the franchise information on the company’s website. It takes a minimum net worth of $1.5 million with $300,000 in cash or equivalent and $750,000 in liquid assets to own a Donatos franchise that costs $25,000 per restaurant.

Donatos was founded in 1963 when Jim Grote bought a small pizzeria on the south side of Columbus with the goal of creating a business that was unique. It has grown to almost 200 company and franchise-owned locations, including more than 50 in the Columbus area.

Grote serves as CEO and his daughter, Jane Abell, as president and COO.

HP2g closes plant in Wauseon

HP2g.com of Napoleon announced it will close its manufacturing facility in Wauseon due to a lack of funding, according to its founder and president Douglas Pelmear.

HP2g developed the design for the V-8, 400-HP electric hybrid engine that could reach 100 miles per gallon operating on E-85 ethanol fuel with emissions better than EPA’s 2016 requirements, according to the inventor.

As the project progressed, Pelmear said they had applied for loans from local banks. The State of Ohio was willing to help fund the HP2g project with a bank willing to finance it, but the bank did not meet the required deadline, according to Pelmear.

He reported that the company already had an international patent pending for HP2g, developed a prototype and tested the electronic control, had purchase orders for the electronics called Flex Fuel Chip and plans for manufacturing in place for the electronic control with a US company.

“The HP2g engine is more than just an idea, it’s a reality. It’s a solution for independence from oil and it would create jobs but without funding, it is just another idea shelved,” Pelmear said in a statement to the media.

“It is to my disappointment, the U.S. banking system is willfully doing little than spending our money and they are not investing in small businesses. The banks forgot that their money comes from the depositors. Our government would not have to finance banks and businesses if the banks were doing their job! Need I say; the banking system has failed us all?” Pelmear stated.